The Indianapolis Colts have re-signed quarterback Daniel Jones to a two-year, $88 million contract that can reach $100 million, agents Brian Murphy and Andrew Kessler told ESPN's Adam Schefter. The deal includes $50 million fully guaranteed at signing and $60 million guaranteed for injury.

Jones, recovering from a torn Achilles, is expected to be ready for the regular season after the Colts placed the transition tag on him before the March 3 deadline. The decision allowed top wide receiver Alec Pierce to test free agency before re-signing him to a four-year, $116 million contract. The Colts also traded wide receiver Michael Pittman Jr. to the Pittsburgh Steelers, saving $24 million against the salary cap.

Jones had a breakthrough season for the Colts in 2025 before his injury, orchestrating an offense that was among the league's most explosive at the halfway point. After signing with the Colts last offseason and winning a preseason position battle, he established new career highs in passing yards per attempt (8.1), QBR (63.0), and completion rate (68%).